Member Info for redrobb

If you really did sell half your holding today.. then I'm puzzled.. "run your profits and cut your losses" ..was the mantra as I remember it ....this is not a time to cut, its a time to let it run .. .. the way this is panning out, 200p is not unachievable ..

if they issue an extra 210m shares to UGC , that is an extra 6.3% of shares in issue .. if UGC currently have circa 22%, then their percentage holding will rise to approx 26.6% ... not by the full 6.3% as there will be more shares in issue

With regard to announcements and figures, I think the only one you should look at is the official RNS..
the RNS states that the conversion will result in the issuing of 1,481,481 NEW shares..
this represents an extra circa 0.04% of the issued share capital, which is circa a 2500th share of the company
also, these are new shares, so at best the increase in their voting power is only half of the extra 2500th as there are now the equivalent more shares in issue
this is all irrelevant posturing and testing the water.. for what.. who knows..
All IMHO ..

Unusual to have two days with such little posting.. good to see price is holding firm.. mind you with gold at $1827 the price should be firm.. if it wasnt for all all this smoke and mirrors board nonsense and proposed "forensic investigations" ( what a waste of time that will be) we would undoubtedly be much higher ..

if this doesn't make you shudder.. well it should.. for a big 4 auditor to give up any client under a cloud, let alone a PLC is rare.. it means they have done thier own investigation after the last audit they signed off and have had second thoughts.. .. loosing your retained auditor in this way is damning to say the least..
We are all doomed..!

Mr Lioustiger said he was concerned by Petropavlovsk’s refusal to explain the strategic rationale for the proposed buyout of its Temi subsidiary as well as Deloitte’s decision to stop auditing the company.

Deloitte chose not to seek reappointment as Petropavlovsk’s auditor because of its length of service and concerns about the “limitations” of the company’s “internal controls and systems for financial reporting”, according to a shareholder circular.

Its all as clear as mud really, but one thing is pretty clear.. gold is at $1806 and we are stuck sub 30p till this gets resolved..Lets hope there is a big enough non UGC supporting block that can force them to make a bid.. or we go back to the PM board.. though sometimes I think they are all in it together .. and us small investor mug punters will just be left out in the cold whilst they run off with the value.. if there was a bid.. any thoughts..?

UGC - 22%
Everest - 5%
Prosperity - 7.5%
at least 32.5% of the company is held by these three..

note the definition of a concert party below ....
Why isnt POG calling out the three listed above and forcing them , via the LSE takeover code and blue book rules, to make a bid?
if there is another 17.6% out there that are in cahoots.. we are screwed.. you only need 50.1% to vote through just about anything you want..
IMHO , this concert party is hiding in full view of a paralysed and already infiltrated board..
the Everest "forensic investigation" is a con merely to buy time to increase the size and strength of the insider cabal.

This is not looking good .. this whole scenario should be put to the takeover panel now....the longer this goes on, the more UGC will take control without paying any premium..
Somebody needs to wake up and smell the coffee and act .. now..

Concert party definition..

A 'concert party' is a group of people acting in concert in a takeover bid. In the UK, there are rules for such bids, regulated by regulators such as the Takeover Panel.

There is a 30% threshold at which a Mandatory Offer must be made. This is considered to be reached when a concert party jointly hold 30% of the shares in a company, not when one of them does. The same applies to other financial instrument holdings such as derivatives. Some entities are presumed to be acting in concert unless shown otherwise. These include the directors, subsidiaries, associate companies and the parent company of the bidder.

Even entities that are not part of a concert party may find that rules applying to them: they are required to disclose dealings in the share of the bidder or the target. These "associates" are people who have an interest in the outcome of the bid (other than simply as shareholders) but who are not deliberately acting in concert with the bidder, An example of associates are the directors the target company even when they are not acting in concert with either the bidder or a potential counter-bidder.

note the following : -
"For the purpose of carrying out such independent forensic investigation the board shall retain one of the following firms: Deloitte, EY, KPMG, or PwC."

Given that POG's auditors are Deloitte, then the "independent" report will be carried out by EY, KPMG or PwC..
The insinuations in the request for the report are that Everest think that the dealings they are referring to where not carried out at arms length and that one or some of the parties benefited at the expense of the shareholders.. given that POG are a public company and each year produce a very comprehensive annual report covering all transactions by the company, including those refereed to.... then Everest are implying that Deloittes are involved in some way, given that Deloiites sign off the accounts as all being fine and dandy.. if something is found to the contrary then this is an indictment against Deloittes also..

Whilst the BIG 4 are all supposedly in competition with each other.. they are all part of the same pool really and are more likely to scratch each others backs than point the finger at one of thier own..

Also, any untoward findings by the independent body would be challenged, as at the end of the day it would only be a point of view..

I cant see this being anything but a white wash.. and I doubt it will get voted for anyway as it is a pretty meaningless exercise.

All this is doing is kicking the can down the road and muddying the waters further.. and whilst all this is going on the SP will languish .. I don't think this request should be taken at face value, I think it is a spoiling tactic that will fail..all IMHO of course..

where is the court hearing taking place..?

This is all very confusing.. these unexpected and seemingly sinister events have lead many of us to think that we are looking at the company being taken off us by stealth and leaving us with no value.. either by de-listing from UK or issuing bonds or something else.. either way its all very negative, BUT, the share price has only declined to where it was less than a month ago.. in reality, the jump to 34p was just as unexpected.. there are many large shareholders, but you have to have a holding of nearly 100m shares to be declarable .. if institutions holding large but not quite declarable stakes were spooked and were selling then personally I would be expecting the share to be 16p, not 26p....so it leads me to think that whilst those of here are thinking the worst, many in the city, who hopefully have better information and analysis than we do, see a different outcome to the doom and gloom prevailing here.. just a thought.. I mean, as far as I'm aware,neither Canacord, or Peel Hunt, both of whom have given fairly recent buy recommendations to clients, neither of them have issued sell notes to clients based on these events.. and you would think that their insight into the situation would be more accurate than some of what is posted here.. I mean, has anyone seen a sell note since the AGM.. as I said.. its all very confusing.. I am continuing to hold (circa 1m)

For all you Star Wars buffs out there.. after the great run we have had with the share price up to 34p.. this is like when the Millennium Falcon comes out of hyper-drive expecting to see Alderaan but instead is in what seems to be an asteroid field, but is actually the debris from the destruction of Alderaan.. and then they notice a small moon.. but wait, that's not a moon, its the Death Star....
scene notes... : -
the period in hyperdrive was the run up to 34p
the asteroid field is the shattered pieces of POG
the Death Star is the new board...and..
Darth Vader was played by Peter Hambro

lets see if they can play Humpty Dumpty and put it all back together again..

this is a very bad day for the Rebel Alliance..( Pavel and crew..!!)

is Moex down because we are down.. ? is one price leading the other? .. I'm sure there is a simple answer..

lot of buys going through at 31.5.. .. trade on MoEx is steady..this all looks very encouraging.. which is not something you've been able to say about POG for a long time.. I seriously think we are going to see the share price rise by multiples from here.. seriously 100p plus is no bigger a jump than from 9p to here.. and 9p is where we were a year ago over 300% rise to today's price .. gold during the same period has risen only about 27%.. if the $2000 predictions on gold actually happen.. then POG will soar .. also, if the MoEx listing is to try and get some big Russian investors in.. they are going to want multiple returns like we have had over the last year... and when, not if, we get in to the FTSE 100 all the big funds will have to pile in.. cant believe I am saying this about POG.. but there you go.. every dog has its day..! all in my humble opinion of course..

remember the good old days when some shares would have spurt up on a Friday afternoon cos the word was out that they were going to get a positive mention in the Sunday papers..!

I agree with all the positive sentiment.. slowly but surely this company's profile and standing is strengthening all the time..

very solid buying in the last hour.. all at over 28p.. it has a look of something about to happen or some news about to come out..nobody is buying cheaply after a dip at this level.. this is confident buying..

hi.. well it could go another way..a second wave and another market meltdown could send gold easily through $2000 and beyond.. turmoil and uncertainty can be good for the gold price

Divi would be good.. 100p per share be better..merger with the new big investor might bring both..

Hey updown.. what divi news.. there is nothing official from POG is there?

I, like many of us Im sure, have held POG for a very long time and stuck with it in the hope of some light at the end of the tunnel.. now that there is a glimmer.. I just cant believe there are some sellers about.. maybe they dont keep up with events...
It was pretty obvious from the moment UGC took their strategic stake that there was a bigger picture emerging .. lets see what emerges from the ether...